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Mortgage Market Update
Skyler McCurdy
Skyler McCurdy
Friday, November 6, 2026
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Before you apply, know your debt-to-income ratio |
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One of the most overlooked numbers in mortgage lending is the one that can make the biggest difference in what you qualify for. Here's what you need to know.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Smart Money Habits
The one thing lenders look at before they look at rates
When you're ready to buy or refinance, lenders pull your credit report and calculate your debt-to-income ratio—basically, how much of your monthly income goes toward existing debts. This number matters more than you might think. A lower ratio tells lenders you have room in your budget to handle a mortgage payment comfortably, and that can open doors to better loan options and terms. The good news: if your ratio is higher than you'd like, there are real steps you can take right now to improve it, even before you apply. Paying down existing balances, avoiding new credit inquiries, and staying current on payments all move in the right direction. If you're curious where you stand and what moves might help your application down the road, I'd love to walk through it with you. Let's talk about your financial picture and what it means for your borrowing power.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Skyler McCurdy team any time and we'll walk you through your options. |
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